Impala Platinum (Implats) says its refined 6E production, which includes saleable ounces from Impala Bafokeng in South Africa and Impala Canada, rose by 2% to 1.79 million 6E ounces in the six months ended 31 December 2024 (H1 FY 2025) from 1.75 million 6E ounces a year earlier.
The miner attributed the marginal growth in output to increased available processing capacity and fewer power disruptions in the period.
Implats said it ended H1 FY2025 with excess inventory of about 375 000 6E ounces.
Sales volumes increased by 5% to 1.77 million 6E ounces, including saleable production from Impala Canada and Impala Bafokeng.
It said the softer US dollar basket pricing was compounded by appreciation in the rand exchange rate, and group sales revenue decreased to about R23 800 ($1,287) per 6E ounce sold.
Meanwhile, Implats said group unit costs per 6E ounce are expected to increase by 3% to circa R20 900 ($1,130) on a stock-adjusted basis.
Moderating input inflation and labour savings were bolstered by rand appreciation on the translated dollar cost base of Zimplats in Zimbabwe and Impala Canada.
Implats generated EBITDA of about R6.5 billion ($352 million), and group capital expenditure is projected to have decreased to around R4 billion ($216 million) in the period due to lower levels of growth and replacement capital as projects neared completion.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
